Chief Audit Executives must move beyond traditional compliance and embrace a more strategic role in shaping organisational governance and resilience, according to Bishen Singh, Chief Financial Officer and Group Executive: Finance & Supply Chain at the National Revenue Fund (NRF).
Singh made the remarks while delivering the keynote address at the 2026 Chief Audit Executives Leadership Forum, organised by The Bagaka Group in partnership with the NRF
“Internal Audit is not just about assurance,” Singh declared. “It’s about shaping the future of governance, innovation, and organizational resilience.”
The forum, organised by Bagaka Group, brought together senior audit professionals, risk leaders, and board members to interrogate the evolving expectations of the Internal Audit profession in both public and private sectors.
Shifting from Assurance to Strategic Partnership
Singh’s address highlighted a significant transformation in the profession. While compliance, control monitoring, and risk identification remain foundational, stakeholders now demand that Internal Audit provides deeper insight, foresight, and strategic counsel.
He encouraged CAEs to actively participate in organisational planning and decision-making processes rather than remaining on the periphery, positioning Internal Audit as a key contributor to long-term value creation.
This vision aligns closely with the outcomes-based approach to corporate governance outlined in the King V Report, which emphasises ethical culture, performance, prudent control, and legitimacy. According to Singh and forum discussions, Internal Audit must evolve into a critical governance enabler that supports sustainable performance and strategic objectives.
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Public Sector Relevance and Technological Evolution
The message carried particular weight for the public sector, where governance challenges around procurement, contract management, and consequence management persist. Singh stressed that Internal Audit functions must provide proactive, strategic assurance to help institutions navigate funding pressures, service delivery demands, and emerging risks.
Another key focus of the forum was the transformative impact of technology. As organisations rapidly adopt artificial intelligence, automation, and data analytics, Internal Audit must not only assure these new technologies but also leverage them to enhance its own effectiveness. This evolution demands continuous upskilling and new methodologies.
Bagaka Group’s Commitment to Professional Excellence
For Bagaka Group, the Chief Audit Executives Leadership Forum represents a core part of its mission to foster thought leadership and professional development within the governance and audit space. By creating platforms for high-level dialogue, the organisation continues to support audit leaders in adapting to a rapidly changing business and regulatory environment.
The forum concluded with a strong call to action. Singh urged delegates, including CAEs, Audit and Risk Committee members, and board representatives,to view Internal Audit as “a driver of strategic value creation, not just compliance.”
As one of the leading voices in audit and assurance capacity building in South Africa, Bagaka Group says initiatives like this forum are essential for strengthening the profession’s relevance and impact across both public and private institutions.
